Examples of CT Legacy REIT Mezz Borrower in a sentence
To the extent permitted under the Mezzanine Loan Agreement and the agreements entered into in connection with the Repurchase Finance Assumption Transactions, CT Legacy REIT Mezz Borrower may finance or refinance Legacy Assets.
In exchange for the contribution of the Legacy Assets, CT Legacy REIT Mezz Borrower hereby agrees to pay $30,000,000.00 in cash and to issue to CT Legacy Holdings 4,393,750 shares of its Class A-1 Common Stock, 3,190,625 shares of its Class A-2 Common Stock and 1,464,582 shares of its Class B Common Stock, and to issue to CT 100 shares of its Class A Preferred Stock.
Xxxxxx Title: Chief Financial Officer CT Legacy REIT Mezz Borrower, Inc.
The parties hereby agree to elect to apply section 362(e)(2)(C) of the Internal Revenue Code of 1986, as amended, to reduce CT’s basis in the CT Legacy REIT Mezz Borrower stock instead of reducing CT Legacy REIT Mezz Borrower’s basis in the Legacy Assets.
The restructuring involved contributing substantially all of our legacy assets into a newly formed subsidiary, CT Legacy REIT Mezz Borrower, Inc., or CT Legacy REIT.
As soon as reasonably practicable after they have been made available to the Company, the Manager shall cause to be furnished to each Member the quarterly and annual financial statements of CT Legacy REIT Mezz Borrower.
The Company shall continue indefinitely until the earlier of: (a) the date upon which all of the outstanding Common Stock is disposed by the Company or is otherwise liquidated as a result of action taken by CT Legacy REIT Mezz Borrower; and (b) the date upon which shall occur any other circumstance that, by the Act or this Agreement, would require that the Company be dissolved.
In exchange for entering into the Mezzanine Loan Agreement, CT Legacy REIT Mezz Borrower hereby issues to Five Mile Lender the related mezzanine loan promissory note, dated as of the date hereof (the “Promissory Note”), and to Five Mile Shareholder 2,415,625 shares of its Class A-2 Common Stock.
Subject to Section 2, CT hereby contributes to CT Legacy REIT Mezz Borrower all right, title and interest in and to the Legacy Assets, and CT Legacy REIT Mezz Borrower accepts the contributed Legacy Assets.
Very truly yours, WESTLB AG, New York Branch, as Collateral Agent By: Name: Title: By: Name: Title: CT Legacy REIT Mezz Borrower, Inc.